New crypto cloud platform to rival AWS receives $102m funding

Dfinity sets goal of tackling established incumbents by creating a neutral "unbounded blockchain computer" that could cut costs by up to 90%


Dfininty, a nonprofit foundation attempting to build a new crypto platform to rival incumbents such as Amazon Web Services and Google Cloud, has raised $102m in a new investment, according to Forbes.

The company has set its goal to create a new technical architecture, or "public decentralized cloud computing resource", that will become the foundation for future software applications and companies.

Dfinity plan for their decentralized cloud platform to be more secure, accessible and efficient than their competitors.

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The platform will not be controlled by one organization, instead relying on a distributed network of computers, meaning it should remain neutral and unbiased.

Dfinity president and chief scientist, Dominic Williams, has claimed that the platform's unique architecture means that it is more secure and efficient for engineers to build on, in part due to the fact it theoretically cuts down on the time needed to get different moving pieces of an application to coordinate with one another.

According to its website, Dfinity's "unbounded blockchain computer" will "be unstoppable and won't need to involve complex components such as databases, backup and restore systems or Amazon Web Services, allowing costs to be cut by 90% or more by reducing the supporting human capital required".

The investments have been led by Andreessen Horowitz and crypto investment fund Polychain Capital.

Despite only releasing a test version of its product, Dfinity has so far collected $190m in private funding since its conception in 2014, less than two years ago.

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